Information Security Awareness & Internet Banking Acceptance-Full

8/6/2019 Information Security Awareness & Internet Banking Acceptance-Full

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INFORMATION SECURITY

AWARENESS & INTERNET

BANKING ACCEPTANCE

Sudeep S, MIB,CISAPrincipal Consultant

iFortGlobal Consulting, Kochiwww.ifortglobal.com


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Introduction

Growth of Internet in India

New banking channels

Branch Banking Internet Banking

Mobile Banking

Phone Banking

25 March 2009 2Banking, Financial Services and Markets: Emerging Paradigms


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Internet User: Year 2008 (All India)

25 March 2009 3

Source: Internet & Mobile Association of India (IAMAI)- I-Cube 2008

Banking, Financial Services and Markets: Emerging Paradigms


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Internet Banking Block

Diagram



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Factors affecting Internet

Banking Acceptance Usefulness

Ease of Use

Security Concerns

Quality of facilities

Trust & Privacy

Consumer Awareness

Peer group influence



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What is Information Security ?

Information Security means to ensure theconfidentiality, integrity, and availability ofinformation through safeguards.

Confidentiality that information will not be disclosed tounauthorized individuals or processes

Integrity the condition of data or information that has notbeen altered or destroyed in an unauthorized manner. Data fromone system is consistently and accurately transferred to other

systems. Availability the property that data or information is

accessible and useable upon demand by an authorized person.



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Who Is Responsible for IT

Security?

Everyone who uses a computer needs to

know how to keep his or her computer anddata secure to ensure a safe workingenvironment.



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Information Security Risks in

Internet Banking (for a customer)

Viruses

Spyware (Software installed w/o your knowledgeor consent)

Security Holes in the Operating System Unsecured User accounts

Improper storage and transmission of data

Paper Documents

Electronic Documents

Hardware Failure



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Information Security Risks in

Internet Banking (for a customer)

Trojans / Worms

Denial of Service Attacks

Network Port Scans for available services Brute Force password hacking

Social Engineering

Phishing

RootKits



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What Is Information Security

Awareness?

Information Technology Security Awareness

means understanding various informationtechnology threats that exist in one'scomputing environment and takingreasonable steps to guard against them.



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Benefits of imparting IS

Awareness Helps reduces the security concerns in

customer minds

Improves the acceptance of Internet bankingchannel

Avoids loss of time & money related to IT

fraud incidents



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Key IS Awareness tips of

Internet Banking Customers Monitoring my accounts and statements frequently and

thoroughly, ensures that all activity is accurate.

Should always thoroughly tear or shred documents with

personal information. Should protect account information like personal

identification number (PIN),Username , Password etc.

Should ensure that computer(s) are equipped with a

security toolkit (software) to help keep trespassers out. Should change passwords periodically, using strong

passwords that could not be easily guessed.



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Key IS Awareness tips of

Internet Banking Customers Should always log off from bank site after an online

banking session.

Should shut off/disconnect computer from the Internetwhen not in use.

Should be suspicious of requests for personalinformation from unknown sources.



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Delivering IS Awareness

Campaigns Posters

Brochures

Conducting Awareness classes

Web delivery via Web Pages, PowerPoint orvideo

Tip of the month via email to distribution lists



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Conclusion

Internet Banking has become one of the mostimportant banking channel

Due to the rising transactions cost of branch

banking, banks are encouraging usage of IB

Security concerns are major hindrance to IB

Information Security Awareness holds the key

for more extensive IB acceptance.



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THANK YOU

Sudeep S98460 [email protected]

The only truly secure system is one that is powered off,

cast in a block of concrete and sealed in a lead-lined room

with armedguards. Gene Spafford

Information Security Awareness & Internet Banking Acceptance-Full

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